Governor of the Bank of England speaks out for conscious capitalism

In a speech in the City this week, Mark Carney, Governor of the Bank of England said:

“Capitalism is at risk of destroying itself unless bankers realise they have an obligation to create a fairer society.”

Mark Carney, a Canadian, and the first foreigner to be appointed to this prestigious job went on to warn that there was a growing sense that the basic social contract at the heart of capitalism was breaking down amid rising inequality. “We simply cannot take the capitalist system, which produces such plenty and so many solutions, for granted. Prosperity requires not just investment in economic capital, but investment in social capital.”